Shares of American Campus Communities Inc (NYSE:ACC) traded at a new 52-week high today of $65.42. So far today approximately 416,000 shares have been exchanged, as compared to an average 30-day volume of 1.6 million shares.
American Campus Communities Inc or ACC, is a real estate investment trust engaged in the acquisition, management, and development of student housing properties near universities and colleges throughout the United States. The company segments its activities into Owned properties, On-campus participating properties, Development services, and Property management services. The vast majority of ACC’s real estate portfolio is made up of wholly-owned properties in terms of total units. The company also derives nearly all of its income in the form of rental revenue from leasing its wholly-owned real estate assets to students through short-term leases. ACC is one of the owners of student housing properties in the U.S. in terms of the total number of beds owned.
Over the past year, American Campus Communities Inc has traded in a range of $48.01 to $65.42 and is now at $65.39, 36% above that low.
American Campus Communities Inc (NYSE:ACC) defies analysts with a current price ($65.39) 52.0% above its average consensus price target of $31.37.
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